In a pure capitalist economy, "what to produce" is determined by
A. government central planning committees.
B. the price mechanism.
C. the credo: "Each according to his ability, to each according to his needs".
D. all of the choices are true.
B. the price mechanism.
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An increase in the interest rate is an increase in the opportunity cost of consuming in the future.
Answer the following statement true (T) or false (F)
A tax, in which amounts transferred as gifts and bequests are jointly taken into account, is known as
A. inheritance tax. B. death tax. C. accessions tax. D. unified transfer tax.
The 1997-1998 Asian crisis began as a crisis of confidence in China's financial system
a. True b. False
Because it is
a. excludable but not rival in consumption, a sweatshirt is a club good. b. rival in consumption but not excludable, a sweatshirt is a club good. c. both excludable and rival in consumption, a sweatshirt is a private good. d. neither excludable nor rival in consumption, a sweatshirt is a public good.